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Cryptocurrencies Price Prediction: Tokens, Bitcoin & Stablecoins – American Wrap 06 October

Cryptocurrencies Price Prediction: Tokens, Bitcoin & Stablecoins – American Wrap 06 October
FXStreet TeamFXStreet TeamFXStreet

Tokenized US treasuries arrive on coinbase’s base with backed’s RWA token issuance

Switzerland-based tokenization firm Backed Finance has expanded its tokenized short-term U.S. Treasury offering to crypto exchange Coinbase’s Base blockchain, the firm said Friday in a press release.
 
Bitcoin price had a rather negative initial reaction to the release of the US Nonfarm Payrolls for the month of September. Beating by wide margin market expectations, the jobs report highlighted the addition of about 336,000 jobs against the forecast of 170,000 jobs.
BTC/USD 1-hour chart
As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed.
 
 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Ripple tumbles as sell-side pressure intensifies

Ripple tumbles as sell-side pressure intensifies

Ripple edges lower and trades at $1.45 on Wednesday, as headwinds intensify across the crypto market. Major crypto assets remain in bearish hands, with Bitcoin falling below $84,000 and Ethereum below $2,800.

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Bitcoin’s correction follows a recent rejection due to supply around $87,200. Altcoins are generally in a correction trend, as Ethereum edges lower toward the next key support at $2,600 and Ripple extends its down leg near the $1.45 demand area.

Polygon extends decline as shutdown rumors fuel panic selling

Polygon extends decline as shutdown rumors fuel panic selling

Polygon is down nearly 5% on Wednesday, amid selling pressure linked to rumors of a network shutdown sparked by a social media post. Derivatives data shows a sell-side dominance as Open Interest declines 13% over the last 24 hours while funding rates flip negative.

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network (PI) continues to extend a bearish phase over the last seven days, risking a breakout below the $0.0800 round figure. The social chatter surrounding the PI token is on the rise, likely driven by investors’ fear.

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.